FINRA announced today that it has fined M1 Finance LLC $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory, or misleading claims.
(a) Assignment of Responsibility for General Ledger Accounts
Each capital acquisition broker must designate an associated person who is responsible for each general ledger bookkeeping account and account of like function used by the broker and such associated person must control and oversee entries into each such account and must determine that the account is current and accurate as
(a) Representing OneselfIn any proceeding, a person may appear on his or her own behalf. When a person first makes any filing or otherwise appears on his or her own behalf before an Adjudicator in a proceeding, he or she shall file with the Adjudicator, or otherwise state on the record, and keep current, an address at which any notice or other written communication required to be served upon or
Avenues for charitable giving today go beyond traditional cash donations made directly to nonprofit organizations. Investment vehicles designed specifically for charitable donations provide opportunities to contribute other financial assets, including securities and property, and might also provide you with certain benefits, such as tax deductions or regular income payments.
OverviewThis Guidance is to assist applicants prepare Form CMA (Continuing Membership Application), when seeking approval of an increase in associated persons involved in sales, as defined in IM-1011-1. (See Standard 1 for further detail.) Specified parts of Form CMA are marked with an asterisk (*) to designate the information or documentation that must be submitted with the application. One
In relationship investment scams, fraudsters often hide their true identities, reach out to unsuspecting targets (often online or through text messages), gain their trust over time, and then defraud them through fake investments. These scams are sometimes referred to by terms including romance scams, “cryptocurrency” investment scams, financial grooming scams, and “pig butchering scams.” Learn more about these scams and red flags to watch for.
If you’re not careful, holiday expenses—including non-gift items and entertainment costs—can add up quickly. Follow these four steps to set a thorough holiday budget and keep spending under control.
Firms must comply with the Bank Secrecy Act and its implementing regulations ("AML rules"). The purpose of the Anti-Money Laundering (AML) rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation. FINRA reviews a firm’s compliance with AML rules under FINRA Rule 3310, which sets forth minimum standards for a firm’s written AML compliance program.
SummaryFINRA is issuing this Notice to provide guidance for members affected by the recent failures of Silicon Valley Bank (SVB) and Signature Bank (Signature).Questions concerning this Notice should be directed to your firm’s Risk Monitoring Analyst.BackgroundThe following is guidance for member firms affected by the recent failures of SVB and Signature.For Members with Deposits at SVB and
Sec. 2. (a) The Board shall have authority to adopt rules and regulations applicable to applicants for membership, members, and persons associated with applicants or members establishing specified and appropriate standards with respect to the training, experience, competence, and such other qualifications as the Board finds necessary or desirable, and in the case of an applicant for
